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14th April 2016

Scottish Friendly Reacts to Interest rate Announcement

Following today’s announcement that the Bank of England’s Monetary Policy Committee (MPC) voted unanimously to maintain Bank rate at 0.5%, Calum Bennie, savings expert at Scottish Friendly said, “the days of the Bank of England threatening an imminent rise in interest rates seem to be fading into the distance

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Scottish Friendly Reacts to Interest rate Announcement

Bennie added:

“Continued global economic uncertainty means this long period of record low interest rates is going to get even longer which is grim news for cash savers. While macro-economic decisions may be out of our control, creating a diversified savings portfolio is an option, savers can take to regain control their financial future.

“Stocks and shares ISAs offer the opportunity to grow money over the long-term, and although risk is attached, savers need to have these products on their radar in order to be able to gain from the returns they can offer.”


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